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U.S. stocks post worst 10-day start to a year in history

U.S. stocks closed sharply lower Friday, locking in the worst 10-day start to a calendar year ever, as oil prices plunged and investors worried about slowing growth in the U.S.

During the course of the session, the S&P 500 broke below its Aug. 24 low—which several market strategists said would be tantamount to a major sell signal—to trade at its lowest level since October 2014. The Dow Jones Industrial Average was briefly down as much as 537 points.

”There’s not a lot of people willing to take their foot off the gas and prices are adjusting accordingly,” said David Meier, portfolio manager at Motley Fool Asset Management. “As a result of that you’re seeing fear just creep in.”

The Dow DJIA, -2.39% slumped 390.97 points, or 2.4%, to 15,988.08, while the S&P 500 SPX, -2.16% slid 44.85 points, or 2.3%, to 1,876.99, led lower by the financial...